Top 8 Multifamily Projects Under Construction in Miami
UPDATE: 4/1/2020
The Covid-19 outbreak has resulted in Governor DeSantis locking down Florida as of April 1. However, construction is considered an essential business per Executive Order 20-89.
BuildCentral will continue to inform you of any changes that might arise in the status of construction in Florida.
Miami, aka the Magic City, is one of the fastest growing cities in the country, and with that growth comes the need for multifamily construction.
Here are some of the largest multifamily projects under construction in Miami, updated by BuildCentral since January 2020.
Market Overview
Miami is the seventh biggest city in the US.
The metropolitan area of Miami-Dade has a population of 6.1 million people.
300 of its buildings are classified as high rises which make it the third tallest city in the country.
So what multifamily projects are under construction in Miami?
VOX Miami
Construction started on the first of two phases on this mixed-use project in late February 2020.
This first phase calls for multifamily housing in an eight-story, 361-unit student housing building.
The architect of this project is Perkins + Will and the general contractor is Moss Construction Management.
The second phase, which hasn’t started, will add a Class A office building.
| Value | $125 million |
| Location | 5801 South Dixie Hwy |
| Start Date | February 2020 |
7th Avenue and 1st Street Apartments
In February 2020, Premium Development secured a loan for a 194-unit apartment building at 7th Avenue and 1st Street that will also include 70,000 square feet of ground-floor retail space.
The project is expected to be complete before the end of 2021.
| Value | $65 million |
| Location | 760 SW First St |
| Start Date | Spring 2020 |
Brisas del Rio Apartments
The Related Companies also received a loan to begin construction on one of their Miami multifamily projects, the Brisas del Rio Apartments.
This 13-story apartment building will have 168 affordable apartments.
Some of the units will be set aside for seniors. Related has confirmed that they will serve as their own general contractor.
| Value | $36.5 million |
| Location | 800 NW 13th Ave |
| Start Date | Early 2020 |
Med Square Place
If all goes according to plan, then the Med Square Place project will be under constrution soon, with groundbreaking planned for April 2020.
This two-story building will offer 37,000 square feet of medical offices on the ground floor and 86 independent senior apartments above.
Amenities will include a fitness center and dining room. Construction is tentatively scheduled to be complete in summer 2021.
| Value | $29 million |
| Location | 9101 Southwest 24th Way |
| Start Date | April 2020 |
Paradise Lakes Apartments
Housing Trust Group broke ground on Paradise Lakes Apartments in February 2020 and work is expected to be done in April 2021 on this three-story, 76-unit affordable apartment building that will also include 11,388 square feet of ground floor retail.
| Value | $25 million |
| Location | 8905 SW 169th Ct |
| Start Date | February 2020 |
NR Investment Multifamily Building
NR Investments went before the FAA in late 2019 for approval to begin construction on a 29-story tower with 225 units, 8,000 square feet of retail, and office space in early spring 2020.
| Value | $25- 100 million |
| Location | 70 and 90 Northeast 17th Street and 1642 Northeast 1st Avenue |
| Start Date | Spring 2020 |
Madison Square
In January 2020, the team at BuildCentral confirmed the start of construction at Madison Square, a three-story affordable apartment building by Abreu Development with 40 units and 13,000 square feet of ground-floor commercial space.
As of 1/15/20, construction is ongoing.
| Value | $5- 25million |
| Location | 6415 SW 60th Ave |
| Start Date | Late 2019 |
1414 West Apartments
Permits for a five-story, 14-unit condo development were issued in February 2020.
| Value | $5-25 million |
| Location | 1414 West Avenue |
| Start Date | Spring 2020 |
Are there any notable projects still in planning?
Tons of new Miami multifamily construction projects are expected to start in the second half of 2020.
Here is a quick rundown of those projects.
Nexus Riverside Central Apartment Towers
| Units | 1350 |
| Value | More than $100 million |
| Status | Nexus Riverside was granted final approval by city commissioners in the summer of 2019, and if all goes well, they hope to begin construction in late 2020, and have the entire development completed in five to seven years. |
Shoma Douglas
| Units | 391 |
| Value | $25-100 million |
| Status | The Miami Urban Development Review Board was scheduled to review this project on 3/18/20; however, all public meetings have been cancelled due to the COVID-19 outbreak. Shoma Homes/Shoma Group has the 2.4 acre site under contract as of 3/19/20. They hope to obtain permits by the end of 2020 and to break ground in February or March of 2021. |
Residences at Dr King Boulevard
| Units | 120 |
| Value | $25-100 million |
| Status | In February 2020, a representative from Martin Luther King Economic Development Corp confirmed to BuildCentral that construction is expected to begin construction in July 2020. |
Legacy Hotel & Residences at Miami Worldcenter
| Units | 240 |
| Value | $25-100 million |
| Status | Renderings were released in February 2020. Construction is expected to start in summer 2020 and be complete in 2023. |
The Line Apartments
| Units | 449 |
| Value | $25-100 million |
| Status | Construction was supposed to begin in summer 2019, but in February 2020, BuildCentral tram confirmed that a firm construction start date hasn’t been announced. |
Vertical Medical City Biscayne
| Units | Up to 245 units of senior housing in a 90-story building with medical offices. |
| Value | $2.1 billion |
| Status | Plans were submitted to the Federal Aviation Administration on 1/22/20. Construction is scheduled to begin in January 2021. |
The Plaza at Coral Reef
| Units | 200 |
| Value | $25-100 million |
| Status | A groundbreaking is expected to take place in summer 2020 and work should be completed in early 2022. Royal Senior Care Management has purchased the property from Healthcare Trust of America, Inc. |
Lincoln Gardens Redevelopment
| Units | 221 |
| Value | $64 million |
| Status | Miami-Dade County intends to submit a request to the US Department of Housing and Urban Development for $16.4 million for the project in late January 2020. |
To learn more about the owners, developers, architects and general contractors responsible for these projects and others, sign up for a free trial to our MultiFamilyData multifamily construction lead database.
Or call BuildCentral toll-free at 866-316-5300 to speak with a construction data expert.